MICRO AND SMALL FINANCIAL STATEMENTS

  This year was rich in changes regarding the filing of financial statements by micro and small enterprises. The period for interim financial reporting is ending – 9 months. From the list of forms of state statistical observations and financial statements that can be submitted electronically, it follows that the “updated” forms are No. 1-m, No. 2-m (S0110012), and also No. 1-ms, No. 2-ms (S0111004 ) are submitted starting from reporting for the 9 months of 2019.

 Recall that these forms were updated by order of the Ministry of Finance dated May 31, 2019 No. 226 (entered into force July 15, 2019).

 Accordingly, income tax payers – quarterers (who are small or micro) need not sleep this moment.
For enterprises – single tax payers of group 3, nonprofit organizations, microenterprises, as before, the annual reporting period is set.

 Recall: small enterprises were excluded from the list of those “lucky” who are allowed not to compile or submit interim (quarterly) financial statements. Corresponding changes were made to Order No. 419 (Cabinet of Ministers of Ukraine dated July 17, 2019 No. 625) and entered into force on July 24, 2019.

 Since reporting on “updated” forms has already been submitted for 9 months, it can be assumed that the norm regarding the submission of quarterly reports by small enterprises also worked “in a normal mode” —that is, small enterprises must submit financial statements already from the report for 9 months of 2019.

 But this, again, is only an assumption. There are no clear explanations yet. Accordingly, the little hope that the Ministry of Finance will nevertheless issue a “good” explanation on this subject still remains. At the same time, in oral consultations, the statistics service says that it is already necessary to submit for 9 months.

 Recall that in the statistics the interim (quarterly) financial reporting (from those who are required to submit it to the statistical authorities) should be received no later than the 25th day of the month following the reporting quarter. In the case we are interested in (for 9 months of 2019) – no later than October 25.

Author: Kristina Vorozhbitova

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